Yang Ming Seals Charter for 10 Boxship Newbuilds

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Yang Ming Marine Transport Corporation has confirmed the charter for ten newbuilding containerships with Costamare and Shoei Kisen. Under the contract, the two shipowners will order five containerships each ranging between 11,000 and 12,000 TEU. The newbuilds are slated to start delivery in 2020 with the last ship from the batch scheduled to be completed
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The Australian Maritime Safety Authority (AMSA) has detained a domestic-flagged ship believed to be unseaworthy. AMSA inspectors boarded the MV Tomin in the Port of Yamba, New South Wales, on June 25, 2018. The inspectors subsequently detained the vessel because AMSA suspected the vessel to be“unseaworthy, substandard and a threat to the marine environment.” With
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Libya’s National Oil Corporation (NOC) declared force majeure on crude oil loading at Hariga and Zuetina oil terminals on Monday, July 2, 2018. The announcement follows suspension of loading at the Ras Lanuf and Es Sider terminals. The force majeure is being imposed in line with the order of the Libyan National Army (LNA) General
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Germany’s Hamburger Hafen und Logistik AG (HHLA) has completed the acquisition of Estonia’s largest terminal operator, Transiidikeskuse AS (TK). Back in March 2018, HHLA signed the contract with Kantauro OÜ to acquire 100% of TK shares, in line with its strategy of regional diversification. Three months later, on June 27, HHLA assumed full responsibility for the terminal operator.
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The trade war adds painful uncertainty for the shipping industry, as it distorts the free flow of goods, changes trade lanes and makes it difficult for ship operators and owners to position their ships efficiently in the market. The trade war is a speeding train, accelerating with every trade-restrictive retaliatory measure imposed and becoming ever
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Aluminium exports from the Country increased by 36 per cent in 2017-18, aided by global demand, which outstripped supply. A spurt of 21 per cent in the commodity’s prices on the London Metal Exchange (LME); US sanctions on UC Rusal, one of the largest producers; and over-supply to the domestic market helped exports to rise
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A majority of Indian and foreign investors consider that high oil prices have emerged as a significant risk to the Country’s economy, Moody’s Investors Service said recently. The US rating agency’s report is based on a survey of 175 respondents, including from over 100 financial institutions at the annual India Credit Conference in Mumbai and
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The Commerce Minister Suresh Prabhu recently said he is expecting around 20 per cent growth in exports in June. In May, exports recorded over 20 per cent growth and it looks like June will also be the same, he said. The Minister was addressing exporters on preparing strategy to add 100 billion dollar to India’s
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Shreyas Shipping and Logistics Limited (hereinafter known as Shreyas), operators of container vessel SSL Kolkata, report that the vessel remains aground some 7.5 nautical miles off the Indian Sunderbans, Kolkata, West Bengal. The grounding occurred following an explosion on 13th June in the cargo area, resulting in a significant fire. The crew, using the on-board
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